Stonegate Mortgage Corporation And Bank Of Virginia Create A Residential Mortgage Loan Participation Program
In September 2012, Stonegate Mortgage acquired NattyMac, a leading warehouse lender, from Guggenheim Partners. By adding the NattyMac warehouse platform and its processes, the company has created an integrated warehouse and loan sale solution for its clients and has expanded the platform by offering servicing flow transactions for Fannie, Freddie and Ginnie Mae eligible loans. Stonegate Mortgage followed that announcement in November with an agreement with Community Bank Mortgage LLC, a subsidiary of the American Bankers Association, to become its newest secondary market investor enabling Community Bank Mortgage LLC owner banks to sell loans on a “servicing-released” basis to Stonegate Mortgage with competitive pricing as well as access to the company’s full line of mortgage finance products.
Stonegate Mortgage announced its plans to expand its third party originations and servicing portfolio and build its financial institutions channel after completing a private equity transaction with Long Ridge Equity Partners, a New York-based private investment firm in March 2012.
About Stonegate Mortgage Corporation
Stonegate Mortgage Corporation is one of the largest and fastest growing independent, non-bank, mortgage lenders and servicers in the U.S., according to Inc. Magazine. Backed by Long Ridge Equity Partners, a New York based private investment firm, Stonegate Mortgage originates, acquires and retains mortgage servicing rights through a network of retail branches and approved third party originators, which include depository institutions, mortgage bankers and mortgage brokers.For more information on Stonegate Mortgage Corporation, please visit www.stonegatemtg.com.
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